The structural changes within multinational national companies and their country-specific strategies have also opened up more opportunities in large markets like India and China. Photo: Hemant Mishra/Mint

Mumbai: Returning Indians are increasingly becoming the biggest talent pool for senior-level hiring, particularly for Indian financial services companies, in the last one year, said senior executives at Korn Ferry, one of the leading global executive search firms.

“There is huge amount of talent sitting there in Singapore or South Asia who are becoming much more interested in returning and looking for opportunities back home,” said Nick Evans, senior client partner (global financial market), Korn Ferry, in an interview.

According to Monica Agrawal, head of global financial services (India), Korn Ferry, growing opportunities in the digital and financial services sector in India as well as the emerging protectionism across nations have led to most experienced Indians working abroad to look out for openings in the country.

Queries for openings from Indians abroad have almost doubled in the last one year, she said, adding that “returning Indians have become a big candidate pool”.

Last one year has seen quite a few Indians relocating to the country. Recently, P.R. Sheshadri, former chief executive officer BFC Bank in London, took up the role of managing director and chief executive officer of Karur Vysya Bank in India. Few others include Manoj Piplani, former managing director(MD) of UK Cards, joining Bank of Baroda as managing director of Bobcards, the bank’s card and payment business arm, and Jaspal Bindra, former Asia Pacific CEO of Standard Chartered Bank, joining as chairman of Centrum Group, a brokerage and financial services firm.

“There is lot of action happening in the financial services whether it’s banking, non-banking financial services companies, fintech or housing finance. There is obviously upscaling of talent. Also, NBFCs are investing big time, while fintech is hiring as there is so much action in the payment space right now,” Agrawal said.

Evans said the ongoing structural changes within multinational national companies and their country-specific strategies have also opened up more opportunities in large markets like India and China.

“Regional roles are reducing. India and China are so big... Each of these countries have become so huge that no longer companies think that we need a Asia strategy but more towards country specific strategies,” he said, adding technology has been an enabler for such a strategy cutting down the need for a centralised hub.